Major International Business Headlines Brief::: 01 July 2024

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Major International Business Headlines Brief:::  01 July 2024 

 


 


 

	
 


 

 


 

ü  Kenya: Nyeri Tea Factory Directors Sent Home, Replaced With New Ones

ü  Nigeria: Minimum Wage - Lawyers Back NLC, Say FEC Can't Negotiate for
Workers

ü  Nigeria: Oil Theft - Blame Big Players, Not Ijaw Youths, Senator Dickson
Insists

ü  Mastercard Foundation To Host Inaugural Edtech Conference  

ü  Nigeria: 76% of Companies Improved On Cyber Defenses - Report

ü  Nigeria: NPA Scores 100% in Presidential Ease-of-Doing Business Ratings

ü  Africa: How Access to U.S. Market Changed the Fortunes of Two South
African Sisters - AGOA

ü  Kenya: KTDA Unsold Tea Makes Up a Third of Auction Offerings As Minimum
Price Bites

ü  Angola: Banana and Cassava Fair and Conference Raises More Than 50
Million Kwanzas

ü  Nigeria: Ekiti Govt Writes TCN, NERC, BEDC, Rejects Planned Two-Month
Power Outage

ü  RwandAir Celebrates One Year of Direct Flights to Paris

ü  Uganda: Masaka's Kasaali Village Cries Out for Electricity

ü  Boeing to get 'sweetheart deal' -victims' lawyer

ü  The UK taxi driver still being paid as a Nigerian civil servant

 


 

 


 <mailto:zitfmktg at zitf.co.zw> Kenya: Nyeri Tea Factory Directors Sent Home,
Replaced With New Ones

Nairobi — Most directors at tea factories in Nyeri County have been sent
home, highlighting farmers frustrations in the running and management of
these facilities.

 

Out of over 20 slots, only three current directors were re-elected from tea
factories, such as Ragati, Chinga, and Gathuthi.

 

In Ragati, for example, farmers rejected former KTDA MD Eustace Karanja for
young Isiah Miano.

 

Ragati Factory chairman John Kareu was elected in the Cheche zone, while
Charles Ndoria was picked in the Magutu central zone.

 

Those rejected were former directors who were serving under the previous CS,
Peter Munya.

 

While launching the polls during a visit to factories in Nyeri and Murang'a
counties, CS Mithika Linturi said that the polls are meant to bring sanity
to the sector and eradicate cases filed by former directors in courts of
claims of being removed from offices illegally.

 

Linturi added that the government had no preferred candidate for the
directors; hence, farmers had the right to choose their representatives.

 

- Capital FM.

 

 

 

 

 

Nigeria: Minimum Wage - Lawyers Back NLC, Say FEC Can't Negotiate for
Workers

Lawyers have agreed with organised labour that the Federal Executive Council
(FEC) cannot decide on the salaries for Nigerian workers.

 

One of the lawyers, Mr Abdul. Balogun (SAN) said no law gives FEC the powers
to determine how much civil servants should be paid as salaries.

 

He said, "There is nothing in our law books that gives FEC the powers to
deliberate on minimum wage. It is illegal. Any resolution by FEC on minimum
wage cannot stand because they do not have the power to come up with any
resolution on the matter."

 

Also, Barrister Daud Bello, a civil rights activist, agreed with the
submission of Balogun.

 

To him, the issue of minimum wage is something that should have been dealt
with and decided by now and move on to something else.

 

"The deliberation on minimum wage has lingered for too long, and I expected
that by now, it should have been decided by the appropriate body. FEC has no
business deliberating on minimum wage; it is not their duty. Any resolution
by the FEC on minimum wage is a violation of the law guiding wages and
salaries in the country," he said.

 

- Leadership.

 

 

 

 

Nigeria: Oil Theft - Blame Big Players, Not Ijaw Youths, Senator Dickson
Insists

Warri — Senator Seriake Dickson representing Bayelsa West Senatorial
District in Bayelsa State, over the weekend, insisted that those behind
incessant oil thefts in the Niger Delta were "big players" living outside
the region.

 

He said the Ijaw youths being labelled oil thieves lack the wherewithal, the
capacity and technical know-how on how pipelines operate and how high
voltage pipes can be tampered with.

 

Senator Dickson, former governor of Bayelsa State, made the revelation when
he paid a courtesy visit to the Pere of Gbaramatu Kingdom, HRM Oboro-Gbaraun
11, Aketepe, Agadagba and founder of Tantita Security Services Limited
(TSSL), Chief Government Ekpemupolo alias Tomopolo at Oporoza, headquarters
of Gbaramatu Kingdom.

 

 

He declared: " It is a fact; it is very known to everybody. The Ijaw people
were living in the creeks, living our daily live eking out their livelihood
when our waterways have been polluted and our farmlands polluted. We have no
means, no capacity to engage in the high-level operations that result in the
daily loss of Nigerian crude oil produced from our place.

 

"Those who have the capacity to compromise and infiltrate the national
security system, infiltrate the national petroleum system; those who have
the capacity to hire the tankers and shuttle vessels - they are not Ijaws.
We don't have the capacity to do that.

 

"We don't even have the experience to get involved in that kind of
operations. That's a high-level operation that needs a lot of resources,
coordination, funding and international networking."

 

 

Dickson maintained that if Nigeria is serious, the country has to step up
its game at the international arena by pushing for the designation of her
stolen crude oil as blood crude as done with blood diamonds arising from
conflicts around some states in West Africa.

 

"Nigeria has to push for that. But those who, on daily basis, under-declare
even what is produced; those who have refused to properly monitor and record
what's produced for over 50 to 60 years should take the blame; not the
unarmed Ijaw Youths without the capacity, without the technical know-how."

 

Dickson insisted that the big players behind the crude oil theft were not in
the region but based in Lagos, Abuja and other world capitals.

 

He said he was in Gbaramatu on a courtesy visit to the Agadagba and to
appreciate him, his council of chiefs and those who were supporting the
monarch for maintaining order and peace and stability.

 

His words: "This kingdom is strategic to the Ijaw Nation and the Niger Delta
region. Gbaramatu Kingdom is very strategic to the nation. I have seen great
development and what they have done here. In the issue of Tantita, I want to
thank my younger brother, Tompolo for their contribution towards stopping
vandalism of strategic national assets.

 

"I want to thank him for reducing illegal oil bunkering as it is called and
for trying their best in reducing the environmental degradation caused by
illegal refining activities and tampering with pipelines", he added.

 

Dickson observed that the best thing government and NNPC had done was
engaging Tantita and "the man who understands the difficult terrain. He
understands the terrain, that's why he has been able to bring some semblance
of normalcy. I want to encourage him to do more".

 

He commended Chief Government Ekpemupolo for the wonderful job he has been
doing with his security outfit, Tantita Security Services Limited (TSSL) to
boost the oil revenue of the country and ensure regeneration of the eco
system in the region.

 

Dickson also commended the paramount ruler of Gbaramatu Kingdom HRM
Oboro-Gbaraun 11 Aketepe Agadagba for ensuring peace, not only in the
kingdom but the entire Niger Delta.

 

Pere of Gbaramatu Kingdom HRM Oboro-Gbaraun 11 Agadagba, while welcoming
Senator Dickson for the visit, described him as a true Ijaw son.

 

- This Day.

 

 

 

Mastercard Foundation To Host Inaugural Edtech Conference  

Abuja, Nigeria — The Mastercard Foundation, through its Centre for
Innovative Teaching and Learning, is hosting its inaugural EdTech Conference
from July 8 – 10, 2024. The conference will be a biennial convening. This
year, it is being hosted in partnership with the Federal Government of
Nigeria and will be held at the Hilton Transcorp, in Abuja, Nigeria.

 

In line with the African Union’s Year of Education, the 2024 Mastercard
Foundation EdTech Conference is themed,  ‘Education Technology for Resilient
and Inclusive Learning in Africa.’

 

Conversations will center on the current state of the EdTech ecosystem,
emerging trends, the role of EdTech in solving Africa’s educational
challenges and policies that are needed to foster an enabling environment
for technology-enabled innovation in education.

 

Technology is a powerful enabler of possibility and progress,” said Reeta
Roy, President and Chief Executive Officer at the Mastercard Foundation.
“Across Africa, young innovators and entrepreneurs are bringing new energy
and ideas to the education sector. Some are innovations that could shift
ecosystems and the future for many. This inaugural conference brings
together young people, EdTech innovators, policymakers, investors,
philanthropists, data scientists and others to accelerate progress toward
digitally-enabled educational platforms and systems that deliver inclusive
learning for all.”

 

EdTech ecosystem stakeholders from across the continent working at the nexus
of education and ICT are expected to share expertise on practical solutions
that can increase access to quality, relevant and inclusive education in
Africa.

 

“Africa could change the course of education delivery by investing in
home-grown innovative solutions that bridge access and learning gaps. This
conference is an opportunity to reflect on what is working and align on the
actions needed to take African EdTech to the next level of impact,” added
Joseph Nsengimana, the Director for the Mastercard Foundation Centre for
Innovative Teaching and Learning.

 

 

RESOURCE: Join us at the Mastercard Foundation EdTech Conference | July 8 –
10, 2024

The inaugural Mastercard Foundation EdTech Conference will underscore the
role of technology in catalyzing transformation within Africa’s education
ecosystem.

 

Read more about the Mastercard Foundation EdTech Conference here.

 

About the Mastercard Foundation

 

The Mastercard Foundation is a registered Canadian charity and one of the
largest foundations in the world. It works with visionary organizations to
advance education and financial inclusion to enable young people in Africa
and Indigenous youth in Canada to access dignified and fulfilling work.
Established in 2006 through the generosity of Mastercard when it became a
public company, the Foundation is an independent organization separate from
the company, with offices in Toronto, Kigali, Accra, Nairobi, Kampala,
Lagos, Dakar, and Addis Ababa. Its policies, operations, and program
decisions are determined by the Foundation’s Board of Directors and
leadership.

 

Mastercard Foundation Centre for Innovative Teaching and Learning

 

The Mastercard Foundation Centre for Innovative Teaching and Learning drives
the innovative use of technology to improve access to quality education,
particularly for the most underserved communities. The Centre works with a
range of actors — including innovation hubs, EdTech entrepreneurs,
policymakers, researchers, educators, and learners – to support the
effective and impactful integration of technology in education, including
the development, deployment and scale-up of promising EdTech innovations
that boost learning and strengthen the education system. For more
information about the Mastercard Foundation EdTech Conference, contact
edtechconference at mastercardfdn.org.

 

 

 

 

Nigeria: 76% of Companies Improved On Cyber Defenses - Report

Sophos, a global leader of innovative security solutions for defeating
cyberattacks, has released its findings from its recent survey, titled:
"Cyber Insurance and Cyber Defenses 2024: Lessons from IT and Cybersecurity
Leaders."

 

According to the report, 97 per cent of those with a cyber policy invested
in improving their defenses to help with insurance, with 76 per cent saying
it enabled them to qualify for coverage, 67 per cent to get better pricing
and 30 per cent to secure improved policy terms.

 

The survey also revealed that recovery costs from cyberattacks are outpacing
insurance coverage. Only one per cent of those that made a claim said that
their carrier funded 100 per cent of the costs incurred while remediating
the incident.

 

 

The most common reason for the policy not paying for the costs in full was
because the total bill exceeded the policy limit.

 

According to The State of Ransomware 2024 survey, recovery costs following a
ransomware incident increased by 50 per cent over the last year, reaching
$2.73 million on average.

 

Analysing the report, Director, Global Field CTO, Chester Wisniewski, said:
"The Sophos Active Adversary report has repeatedly shown that many of the
cyber incidents companies face are the result of a failure to implement
basic cybersecurity best practices, such as patching in a timely manner. In
our most recent report, for example, compromised credentials were the number
one root cause of attacks, yet 43 per cent of companies didn't have
multi-factor authentication enabled."

 

Wisniewski further said: "The fact that 76 per cent of companies invested in
cyber defenses to qualify for cyber insurance shows that insurance is
forcing organizations to implement some of these essential security
measures. It's making a difference, and it's having a broader, more positive
impact on companies overall. However, while cyber insurance is beneficial
for companies, it is just one part of an effective risk mitigation strategy.
Companies still need to work on hardening their defenses. A cyberattack can
have profound impacts for a company from both an operational and a
reputational standpoint, and having cyber insurance doesn't change that."

 

- This Day.

 

 

 

Nigeria: NPA Scores 100% in Presidential Ease-of-Doing Business Ratings

The Nigerian Ports Authority "NPA), over the weekend, emerged with a
performance score of 100 per cent in the just concluded Cohort #3 of the
Presidential Enabling Business Environment Council (PEBEC).

 

In recognition of its dedication to driving the reforms, the NAP was
acknowledged as "The Most Committed" agency with the highest number of
reform activities--63--doubled the average number of activities for other
MDAs and nonetheless achieved a 100% feat.

 

According to PEBEC, "The impact of these reforms is far-reaching and will
improve the overall effectiveness of the ports. The most significant reform
under cohort #3 is the reduction in export processing time after
benchmarking against competing jurisdictions. The authority can reduce its
processing time for exports from an average of 10 days to a timeline of 3-5
days, depending on the arrival of the lifting vessel. Other reforms embarked
on are ensuring transparency, reduced costs, and streamlined processes."

 

While addressing the newsmen, the Managing Director of NPA, Mohammed Bello
KoKo strongly commended the frontline role of the Minister of Marine & Blue
Economy, Gboyega Oyetola.

 

He said Oyetola's pragmatic leadership catalysed the comprehensive reform
agenda being implemented in the maritime industry, which resulted in the
Ministry of Marine and Blue Economy emerging as the "Best Performing
Ministry" in driving PEBEC reforms.

 

- This Day

 

 

 

 

Africa: How Access to U.S. Market Changed the Fortunes of Two South African
Sisters - AGOA

Two entrepreneurs take traditional African designs and sustainable materials
and turn them into international success

 

What started as a pastime desire to sell crafts at local markets, deeply
rooted in the South African culture, has since blossomed to become an
international business entity for two local women.It took the Mokone
sisters, Morongwe "Mo" (37) and Michelle (34), three years only to turn
around their home decor business into an international business venture by
leveraging on the African Growth and Opportunity Act (AGOA).

 

AGOA allows entrepreneurs from Africa duty-free access to the US market.
Approved by the US Congress in May 2000, the legislation sought to help
improve the economies of these sub-Saharan African countries, as well as to
improve economic relations between the US and participating countries on the
African continent.

 

 

Africa Renewal caught up with the two Mokone sisters who are beneficiaries
of AGOA to hear how the initiative has changed their lives.

 

Morongwe and Michelle were raised in Mabopane, Pretoria. In 2016, they
started their business 'Mo's Crib' that produces hand-woven baskets, place
mats, trays, and other homeware accessories, and selling them in at a local
market. In 2019, they decided to pursue the business full-time. Since then,
their business has grown and currently has 12 full-time and 86 part-time
employees.

 

Mo's Crib uses African traditional designs and sustainable materials to make
high-end decorative and homeware pieces inspired by nature. Their arty
designs simple, yet modern and sophisticated, with many of their products
having multiple purposes that prioritize functionality.

 

 

Mo's Crib uses African traditional designs and sustainable materials to make
high-end decorative and homeware pieces inspired by nature. Green products

 

Most importantly, the business values sustainability - emphasizing on
reusing, recycling and reducing waste, as well as using local talent and
material to create employment opportunities. From their locally-sourced
impala palm leaves to the material of their shipping boxes - the Mokone
sisters promote sustainability and a greener society.

 

"Our business is deeply linked to our upbringing in South Africa, we draw
inspiration from the African culture, nature, and our commitment to the
local community," Michelle told Africa Renewal.

 

Michelle, who is Mo's Crib director of operations and supply chain added:
"We transitioned our craft into entrepreneurship when we noticed the
increased demand of our products at local markets. It was the passion for
art and the desire to make a positive impact that propelled us to where we
are today. We also saw an opportunity in retail as we wanted our products to
be accessible, so we decided to partner with retailers to increase sales
volumes and sell in bulk."

 

 

The two sisters quit their jobs, Morongwe was an executive HR specialist
while Michelle worked as an agricultural economist, to follow their dream
and both credit their father, who was an entrepreneur himself, for the
inspiration.

 

"Our father was an entrepreneur himself. Our drive to build a business of
this kind with a sustainable imprint stem from our commitment to creating
sustainable and ethical products. We are motivated by the opportunity to
provide economic and educational opportunities to our employees whom we
refer to as our team members, while at the same time promoting
environmentally conscious practices. Our dedication to sustainability and
empowering local communities has been the driving force behind our
business," said Michelle.

 

Michelle explained how they finally made a breakthrough into the
international market.

 

"In 2019, Mo's Crib made its debut in international markets in France and
the USA. It was an opportunity for Africa to showcase its products,
promoting sustainable practices and potentially opening new revenue streams
for the continent. Our breakthrough demonstrates that Africa can contribute
to the global market while preserving its cultural heritage and promoting
environmentally friendly products," said Michelle.

 

She added: "We are still doing well in the local markets, but we always
wanted that international breakthrough. AGOA provided us that platform. As
it is, we are no longer just selling to local markets in Pretoria,
Johannesburg or in South Africa alone; we are literally reaching the US and
international platforms."

 

Highlighting that through local businesses like Mo's Cribs, age-old African
crafts are given new life, and in doing so, preserve their heritage,
Michelle, however, is urging businesswomen to carefully identify products
that resonate with the international market.

 

"To benefit from AGOA, one must identify products that are in demand in the
US and establish sustainable distribution channels. They must also partner
with knowledgeable forwarding agents to maximize AGOA benefits," she said.

 

"Since 2021, we have shipped a total of eight containers to the US. We are
on track to ship two more containers soon. We also regularly ship a
container to fulfill our orders for our online store, which is fulfilled
through our warehouse in New Jersey, US.

 

"Although shipping is relatively expensive, especially for a small business
that is 100% self-funded, we have benefited from the AGOA through
significant market access. Currently, US orders constitute 60% of our
overall revenue," she added.

 

AGOA renewal

 

According to South Africa's minister of Trade, Industry and Competition,
Ebrahim Patel, the US recently reached a preliminary 10-year agreement with
African countries to extend their preferential trade access by another
decade, pending approval by Congress.

 

"We reached a broad agreement on the need to extend AGOA for another 10
years," Mr. Patel told a business forum in Johannesburg recently, adding
that they were able to engage with policymakers from more than 30
sub-Saharan African countries and the US to enable African countries to
continue exporting goods to the American market duty-free.

 

South Africa hosted the 20th AGOA Forum in Johannesburg from in November
2023 where Mr. Patel said South Africa was seeking to renew its AGOA
membership which he said has been instrumental in improving the livelihoods
of many entrepreneurs in the country.

 

The forum brought together over 5,000 participants comprising African
ministers of trade, senior government officials, the US government
delegation led by US Trade Representative (USTR) Ambassador Katherine Tai,
US Congressional staffers, the private sector, the civil society, exhibitors
in the 'Made in Africa' exhibition, procurers and investors.

 

"AGOA has helped South Africa and other sub-Saharan countries progressively.
It has played a pivotal role in job creation in South Africa and the entire
region," he added.

 

At the same time, South Africa's ministry of Small Business Development
spokesperson, Cornelius Monama, said AGOA presents a great opportunity to
promote emerging entrepreneurs and Small and Medium-sized Enterprises
(SMMEs).

 

Trade under AGOA accounted for approximately 21% of South Africa's total
exports to the US in 2022. South African exports to the US under AGOA
increased in value from US$2.0 billion in 2021 to US$3.0 billion in 2022,"
he said.

 

Meanwhile, for Morongwe and Michelle, they are working on creating more
opportunities and make a meaningful impact in their society. In addition to
safeguarding the natural environment, the Mokone sisters are also committed
to empowering the people in their community.

 

"We would like to grow our footprint beyond the USA. We want to enter new
markets such as Europe and the United Arab Emirates. We plan to create 20
new jobs within the next two to three years," concludes Michelle.

 

- Africa Renewal.

 

 

 

 

Kenya: KTDA Unsold Tea Makes Up a Third of Auction Offerings As Minimum
Price Bites

The Mombasa Tea Auction is set to receive a record volume of teas this week,
bolstered by previously withdrawn beverages belonging to Kenya Tea
Development Agency (KTDA) that failed to attract buyers.

 

According to the auction catalog by the East African Tea Trade Association
(EATTA), which manages the auction, 300,000 packages of the commodity will
be offered for sale, the highest number since the auction's inception.

 

A third of these are reprints--teas that were previously offered but did not
attract bids.

 

The large volume of unsold teas is attributed to KTDA's minimum price
policy, which has driven up the cost of tea across all grades.

 

 

"We are going to have a record high this week with more of these teas coming
from the previous ones that were offered for sale but did not attract bids,"
said Peter Kimanga, a Mombasa-based tea trader.

 

Critics argue that linking the minimum price to production costs rather than
the intrinsic value of the tea is unwise.

 

Industry experts highlight the impracticality of setting a uniform market
price due to the varying quality of teas from different regions. Traders
assert that the diverse nature of teas from different locations makes a
standardised market price unfeasible.

 

"Auction prices should reflect the inherent disparities in quality between
teas originating from the eastern and western regions of the Rift," said a
tea trader, criticising the current pricing structure.

 

As a result, the rigid minimum price policy has led buyers to favour
alternative high-quality teas over KTDA offerings, increasing the volume of
unsold tea at the auction.

 

- Business Day Africa.

 

 

 

Angola: Banana and Cassava Fair and Conference Raises More Than 50 Million
Kwanzas

Cabinda — Fifty-eight million and 92 thousand kwanzas is the amount
collected during the three days of the third edition of the Banana and
Cassava Fair and Conference in the province of Cabinda, the provincial
secretary for Integrated Economic Development, Cândida dos Santos, said
Saturday.

 

When presenting the results obtained at the event, Cândida dos Santos said
in terms of revenues collected there was a reduction of two million compared
to the last edition, where the amount of 60 million kwanzas was collected.

 

Still, according to the promoter, the results obtained during the event
certainly met the organization's expectations.

 

 

Under the motto 'Promoting production to diversify exports', according to
the official, the 430 exhibitors from all residents of the province of
Cabinda, were able to market their products, opened new partnerships and
also increased the level of business knowledge.

 

According to Cândida dos Santos, for three days, more than ten thousand
people visited the exhibition in order to establish partnerships and buy
products from the countryside.

 

For his part, Deputy Governor for the Economic Sector, Macário Lemba
encouraged the provincial secretariats for Integrated Economic Development,
Agriculture, Livestock and Fisheries and the administrations to continue to
promote similar events in order to publicize the agricultural potential of
the region.

 

For the economist, the fair also had another tendency, to promote
agribusiness, entrepreneurship and the promotion of employment and
employability.

 

During the three days of the Banana and Cassava Fair and Conference, the
participants addressed topics such as the financing lines of the Agrarian
Development Support Fund (FADA), food security, company certification,
cultivation and processing techniques, recipes for banana derivatives and
cassava. JFC/VIC/DOJ

 

- ANGOP.

 

 

 

Nigeria: Ekiti Govt Writes TCN, NERC, BEDC, Rejects Planned Two-Month Power
Outage

"The planned disruption of electricity in these two months amounts to an
unacceptable economic, financial and social price to be paid by the citizens
of Ekiti State, and we totally reject such a plan," the Commissioner said.

 

The Ekiti State Government on Sunday rejected the planned outage of
electricity for 23 days out of the two months of July and August by the
Benin Electricity Distribution Company (BEDC), saying that it amounts to an
unacceptable economic, financial and social price to be paid by the citizens
of the state.

 

The BEDC had, in a public notice aired on radio and other social media
platforms, announced the planned outage for certain periods in July and
August.

 

 

In a letter written by the state Commissioner for Public Utility, Mobolaji
Aluko, to the MD/CEO, Transmission Company of Nigeria (TCN), Abuja, the
MD/CEO, Benin Electricity Distribution Company (BEDC), Benin-City, and the
Chairman, Nigerian Electricity Regulatory Company (NERC), Abuja, dated 30
June, he said no direct notification/communication was made to the state
government.

 

The letter, titled, Re: Notification of power disruption/outage in Ado-Ekiti
and Akure for two months (July, August 2024) for nine hours each day (8.00am
to 5.00pm), which was obtained by PREMIUM TIMES read: "Our attention has
been called to public notifications, both in print and in jingles in English
and in Yoruba, of the intention of BEDC under advice by TCN to disrupt power
supply to the transmission stations in Akure and Ado-Ekiti and effect to
adversely affect Ekiti and Ondo State areas - for nine hours each day
(8.00am to 5.00 pm) from 1 July to 31 August, 2024.

 

 

"No direct notification/communication was made to the Ekiti State Ministry
of Infrastructure and Public Utilities (MIPU) on this matter, nor was
approval sought and obtained from the Ekiti State Electricity Regulatory
Bureau (EKSERB), saddled by law with the full authority to regulate the
electricity industry in Ekiti State.

 

"The planned disruption of electricity for three-eighths of each day for
sixty-two days, amounting to five hundred and fifty-eight hours (558) total
and twenty-three days of outage in these two months amounts to an
unacceptable economic, financial and social price to be paid by the citizens
of Ekiti State, and we totally reject such a plan."

 

The commissioner asked for an immediate suspension of the plan and called
for an emergency meeting with the regional heads of TCN, BEDC and NERC.

 

The meeting is slated for Tuesday, 2 July, in the commissioner's office at
the Government Secretariat, Ado-Ekiti.

 

Mr Aluko said the meeting would help all stakeholders to devise an
alternative and far less adverse plan to achieve the same stated aims.

 

The TCN had announced that it planned "to carry out critical maintenance
work on the 132KV Akure Osogbo transmission line, and also install Optical
Ground Wire (OPGW), among other activities."

 

"We request prompt attention to this matter while we are eager to work
collaboratively toward a sustainable solution that will benefit both
citizens of

 

The state and the Ekiti State Electricity Supply Industry. In the time
being, accept our highest regards," the letter stated.

 

"Customers in the affected areas will experience service interruptions
during the period of the planned outages. We sincerely apologise for the
inconvenience this may cause and kindly solicit your patience and
understanding," the TCN's notice read.

 

Meanwhile, some electricity consumers in Ekiti State have described the
planned outage as unacceptable and a disincentive.

 

A consumer, Taiye Paul, who spoke with PREMIUM TIMES, described the plan as
wicked, noting that the BEDC has never been proactive in maintaining their
facilities.

 

Another customer, Kemi Asubiojo, said that BEDC could not add the outage to
the epileptic supply and outrageous billings which consumers were already
experiencing in the hands of the agency.

 

She called for a decisive intervention by the state government to save
citizens from the impending harrowing experience.

 

- Premium Times.

 

 

 

 

RwandAir Celebrates One Year of Direct Flights to Paris

RwandAir Continues to Connect Europe and Africa as the Only Airline
Providing Direct Service Between Paris and Kigali 

 

RwandAir is celebrating the first anniversary of its direct flights from
Paris to Kigali, providing improved connectivity between Africa and Europe.
Launched in June 2023, the flight operates three times a week. With
RwandAir's extensive network of destinations, the route allows travelers to
connect to East, West, Central, and Southern Africa via Kigali, providing a
gateway to Africa.

 

In the past year, the airline has operated over 150 flights between these
destinations as it meets the growing demand from the European market. And,
as the world gears up for the 2024 Summer Olympics, RwandAir is proud to
provide special assistance and travel for some Olympic athletes traveling to
Paris.

 

RwandAir provides the only direct route between Paris and Kigali and offers
stopover service for some flights connecting through Kigali. This allows
passengers to explore Rwanda before continuing on to their final
destinations.

 

Deogratias Higiro, the country manager for RwandAir in Paris, stated: "We
are proud to mark this milestone and the ongoing success of RwandAir's
direct flights between Paris and Kigali. This route has played a vital role
in expanding our global connectivity and demonstrating our dedication to
offering an outstanding travel experience for our customers."

 

"We have seen a growing demand from the French market, reflecting the strong
ties and mutual interests between Rwanda and France. Our direct flights have
made travel more convenient for our valued customers and serve as a bridge
to increase tourism, business, and cultural ties between both countries."

 

Flight WB700 departs Kigali every Tuesday, Thursday, and Saturday at 00:50
AM and arrives at Paris' Charles de Gaulle Airport at 09:30 AM the same
morning.

 

The returning flight WB701 leaves Paris at 09:30 PM every Tuesday, Thursday,
and Saturday, arriving in Kigali, the vibrant capital of Rwanda, at 06:00 AM
the following morning.

 

RwandAir offers a generous baggage allowance. Customers flying in Economy
Class can check in two bags of 23kg each, while those flying in Business
Class can check in up to three bags of 23kg each.

 

For more information about RwandAir and to book flights, please visit
rwandair.com.

 

For further information, please contact: communications at rwandair.com

 

About RwandAir 

 

Based in Kigali, RwandAir is the national airline of Rwanda and one of the
world's fastest-growing carriers. It has a modern fleet of 14 aircraft,
including a freighter servicing 24 destinations across Africa, Europe, and
the Middle East. The airline has a reputation for delivering a premium
service to all its customers while also promoting Rwanda's tourism and trade
industry.

 

 

 

Uganda: Masaka's Kasaali Village Cries Out for Electricity

Residents of Kasaali Iillage in Kimanya Kabonera Sub-county, Masaka City,
have appeale to the government for access to electricity, citing its
critical role in fostering development.

 

This plea comes amidst frustrations over being overlooked despite their
proximity to urban centres and main roads.

 

Kasaali is situated 5km from Masaka City centre and the Masaka-Muttukula
highway, the village is a home to approximately one thousand residents, who
are doing different jobs including those that need electricity to operate.

 

"We have been neglected for too long. Electricity is not a luxury but a
necessity for our village's growth and the well-being of our residents," sai
Hadijah Nakyanzi, a resident.

 

 

According to the community, the absence of electricity has hindered
progress, particularly affecting education initiatives like the vocational
school established by philanthropist Yasin Kalyango.

 

The school, aimed at helping children, especially the vulnerable, has been
unable to operate optimally without reliable power supply.

 

"We built this vocational school in 2019 and it started to operate in 2020.
When Covid-19 pandemic hit, we closed the school which by then had 150
students," Kalyango, director of Glow effect vocational school, said.

 

"Then after Covid, they came back but the school collapsed due to power
shortage in the area since all the machines we had including sewing
machines, dryers, among others needed electricity to operate."

 

Kalyango added that they tried to ask for electricity from Umeme but all in
vain yet they are near the city centre.

 

 

"It is just 5km from Masaka-Mutukula highway and the whole village needs
only 100 electricity poles but it is unfortunate that the government can
connect hard-to-reach areas like Kapchowra among others but we are left
behind," he said.

 

"Our vocational school could greatly benefit from electricity. It would
enhance our teaching capabilities and provide better opportunities for our
children," said Paul Kalema, a resident.

 

Residents can only count pylons for powerlines that delivers electricity to
Tanzania.

 

"It is very unfortunate that the electricity poles and lines are passing in
our plots to Tanzania but us the owners of land we were left behind yet we
cannot connect to those poles to bring power into our homes and businesses,"
said Christine Nalubega, the Kasaali village vice chairperson.

 

She said crime in the village is attributed to the darkness at night.

 

Joseph Kalungi, the Masaka regional coordinator from the Ministry of Energy,
said rural electrification programme was facing challenges, including
administrative disruptions caused by agency mergers.

 

Despite these setbacks, efforts are reportedly ongoing to address
electrification needs across Masaka district.

 

"We are aware of the challenges, but we are hopeful that our voices will be
heard and the necessary steps taken to connect Kasali village to the grid,"
assured Kalungi.

 

Kasali's plight reflects a larger issue affecting several areas in Masaka,
including Kiyumba, Kigondo, and Nyendo-Kirinda, which have also experienced
delays in electrification efforts, stalling their development prospects.

 

Kalungi said the Ministry of Energy currently has a programme called 'Zero
Pole, One Pole or Two Poles and urged people of Masaka who are eligible to
participate in it to get electricity.

 

The programme, he said, is for when one only needs one electricity pole, two
or none for power to reach their home.

 

- Nile Post.

 

 

Boeing to get 'sweetheart deal' -victims' lawyer

A lawyer representing families of victims of two fatal Boeing 737 Max
crashes says they "strenuously object to this plea deal"

 

A lawyer representing victims of two fatal Boeing 737 Max crashes has told
the BBC that the US government is preparing to offer the plane maker a
"sweetheart plea deal".

 

Paul Cassell, who says he got the information "directly from the Justice
Department", added that the deal includes a small fine, three years of
probation and independent safety audits.

 

Boeing did not immediately reply to the BBC's request for comment, while the
Justice Department (DoJ) declined to provide a statement.

Last month, US prosecutors recommended that the DoJ bring criminal charges
against the plane maker.

That was after the DoJ said Boeing had violated a 2021 settlement related to
the crashes which killed 346 people.

 

"The memory of 346 innocents killed by Boeing demands more justice than
this," said Mr Cassell, adding that the "families will strenuously object to
this plea deal".

 

The plane crashes - both involving Boeing's 737 Max aircraft - occurred
within six months of each other.

The crash involving Indonesia's Lion Air occurred in October 2018, followed
by an Ethiopian Airlines flight in March 2019.

 

Both crashes were linked to faulty flight control systems.

A letter sent last month by Mr Cassell to the DoJ revealed that the families
had been seeking prosecutions of Boeing's top executives at the time of the
crashes and a fine of $24.8bn (£19.6bn) for "the deadliest corporate crime
in US history".

 

The Justice Department has until 7 July to decide whether to revive a
criminal charge of fraud brought against Boeing in 2021.

 

That charge has lain dormant since the company acknowledged in a settlement
that it had misled air-safety regulators about aspects of the 737 Max, and
promised to create a new compliance system to detect and prevent further
fraud.

 

Under the deal reached in 2021, Boeing said it would pay a $2.5bn settlement
and prosecutors agreed to ask the court to drop a criminal charge after
three years if the company abided by certain stipulations set out in the
deferred prosecution agreement.

 

But in May, the DoJ said Boeing was in breach of the deal, stating that it
had failed to "design, implement, and enforce a compliance and ethics
program to prevent and detect violations of the US fraud laws throughout its
operations".

 

Earlier this year Boeing was again put in the spotlight when a door panel
fell off a new 737 Max plane during an Alaska Airlines flight.-BBC

 

 

 

The UK taxi driver still being paid as a Nigerian civil servant

If you leave your job, it would seem logical that your salary would stop
being paid, but not so for a number of former Nigerian civil servants.

 

They have managed to be employed elsewhere - sometimes in another country
entirely - and yet continue to receive a wage from their former workplace.

 

News of this has reached the top and last week President Bola Tinubu ordered
a crackdown.

“The culprits must be made to refund the money they have fraudulently
collected,” he said.

 

Sabitu Adams, whose name we have changed to protect his identity, has not
resigned from his position as a junior official at a government agency and
still gets paid each month, despite leaving Nigeria two years ago.

He now works as a taxi driver in the UK, but told the BBC that he was not
worried about losing the salary as he sees Mr Tinubu’s comments as an empty
threat.

 

Mr Adams added that the loss of his monthly Nigerian salary of 150,000 naira
($100; £80) would not be a great hardship, as he earns a lot more driving a
taxi.

 

“When I heard about the president's directive, I smiled because I know I am
doing better here - and not worried,” the 36-year-old said.

 

But why not make it clear to the civil service that he had left?

“To be honest I didn’t resign because I wanted to leave that door open in
case I choose to go back to my job after a few years.”

 

Nigeria's President Bola Tinubu ordered a crackdown into those getting paid
in the civil service for doing no work

Like Mr Adams, more than 3.6 million Nigerians have relocated to other
countries over the last two years, according to official statistics.

Many young Nigerians see little prospect of earning a good living in the
country - a feeling exacerbated by the collapse in the value of the naira
over the past year following the reforms introduced by Mr Tinubu since he
became president.

It has become so common for young people to seek their fortunes outside the
country, the term “japa” has been coined to describe the phenomenon.

 

It is a word from the Yoruba language meaning to escape or flee.

Mr Tinubu said he was "struck by the revelations the head of the civil
service shared regarding employees who had relocated abroad while drawing
salaries without formally resigning".

The president said that not only should the money be repaid but those who
were complicit in allowing it to happened should be investigated too.

“Their supervisors and department heads must also be punished for aiding and
abetting the fraud under their watch,” he said.

 

And this may have been the case for Mr Adams.

The UK-based taxi driver admitted that he continued to be paid thanks to
those in his department: “I had a good understanding with my boss and he
just let me leave."

 

Often in such cases the salary is divided between the supervisor who keeps
quiet and the person being paid, maybe along with an HR representative.

 

But for Mr Adams it was even easier. "In my case it wasn’t like that as my
boss was a relative."

 

AFP A market vendor with painted nails counts naira in south-eastern Nigeria
- 2023AFP

The collapse in the value of the naira over the past year is pushing more
young Nigerians to seek opportunities elsewhere

So-called "ghost-working" is a major problem in Nigeria. Despite several
crackdowns it is believed that thousands of non-existent workers are still
being paid. There appear to be very few checks and balances in place.

But this is the first time it has been suggested that people who have moved
abroad are continuing to be paid their salaries on a large scale.

 

Auwal Yakasai, who retired as a director in charge of finance at Kano
state's information ministry in 2021, said he had heard of such cases.

 

''To be honest I have never caught anyone red-handed,” Mr Yakasai, who
worked for the government for 32 years, told the BBC.

 

“But I have heard numerous stories of such arrangements, where someone would
still be receiving [a] salary after relocating or changing their place of
work.”

 

Since he took office in May last year, Mr Tinubu has pledged to reduce the
cost of governance and cut wastage.

In January, he directed that all official entourages to state and
international events for himself and other government officials be slashed
by 60%.

Nonetheless some have noted that there is much talk in Mr Tinubu’s
administration without much action.

They cite plans to buy new planes worth millions of dollars for Mr Tinubu
and his deputy Kashim Shettima as an example.

 

Another was when Mr Tinubu earlier this month launched a new official
residence for Vice-President Shettima in the capital, Abuja, with a price
tag of $13.6m (£11m).

And despite the president's statement about the foreign ghost-workers, he
did not say exactly what he was doing to crack down on them and take action
against those responsible.-BBC

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
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companies typically involve a higher degree of risk and more volatility than
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investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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